Quanta Services, Inc.’s stock price takes a dip to $257.24, marking a 4.30% decrease – An in-depth analysis

Quanta Services, Inc. (PWR)

257.24 USD -11.57 (-4.30%) Volume: 1.26M

Quanta Services, Inc.’s stock price is currently valued at 257.24 USD, experiencing a decrease of 4.30% this trading session, with a trading volume of 1.26M. Despite today’s dip, the stock maintains a positive year-to-date (YTD) performance, showing a growth of 19.20%.

Latest developments on Quanta Services, Inc.

Today, Quanta Services, Inc. (NYSE:PWR) experienced notable stock price movements following key events in the market. Swiss National Bank sold shares of the company, while Susquehanna Fundamental Investments LLC purchased 18,186 shares. Additionally, SG Americas Securities LLC increased their stake in Quanta Services, Inc. These transactions have likely influenced the stock price of Quanta Services, Inc. as investors react to the changing ownership dynamics within the company.

Quanta Services, Inc. on Smartkarma

Analysts at Baptista Research on Smartkarma are bullish on Quanta Services, Inc. as they see the increased demand for data centers driving top-line growth. In their research report titled “Quanta Services: Will The Increased Demand For Data Centers Continue To Catalyze Top-Line Growth? – Major Drivers,” they highlight the company’s strong performance in Q1 2024, with double-digit growth in revenue, adjusted EBITDA, and earnings per share. The analysts point to Quanta’s total backlog of $29.9 billion as a sign of strong client relationships and future momentum expected in 2024, fueled by the rise in power demand from new technologies like AI and data centers.

In another report by Baptista Research on Smartkarma, analysts continue to be bullish on Quanta Services, Inc. as they assess the longevity of the renewable growth story. Titled “Quanta Services: How Long Will The Renewable Growth Story Continue? – Financial Forecasts,” the analysts note the company’s fourth-quarter and full-year results for 2023, showing double-digit growth in revenues and earnings. With a total year-end backlog of $30.1 billion and a track record of record revenue and earnings, Quanta Services is seen as benefiting from enduring client relationships and a solid operational and financial platform supported by a dedicated workforce of over 50,000 employees.

A look at Quanta Services, Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Quanta Services, a company that provides specialized contracting services to various industries, has received a mixed outlook based on the Smartkarma Smart Scores. While the company scored moderately in areas such as value and dividend, it received higher scores in growth, resilience, and momentum. This suggests that Quanta Services may have strong potential for future growth and stability, despite some weaknesses in value and dividend factors.

With a focus on providing services to electric utilities, telecommunication companies, and governmental entities, Quanta Services operates projects across North America. The company’s moderate scores in value and dividend indicate room for improvement in these areas, but its higher scores in growth, resilience, and momentum point towards a positive long-term outlook. Investors may want to keep an eye on Quanta Services as it continues to expand and provide specialized services to a range of industries.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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